I don't really think it's a bug.... that's how it has been designed (wether we like it or not)
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luriMar 1 '11 at 8:28

2

Hehe it's a feature for sure and I believe it has been implemented for the same reason this question has been asked :P
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danizmaxMar 1 '11 at 8:56

It used to show the location bar all the time, now breadcrumb style navigation is the default. Oh and +1 for keyboard shortcuts!
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invertMar 1 '11 at 9:11

And to toggle it back, strangely, you can't use Ctrl+L. You have to use Esc. (See my answer for other related tips about saving your preference for this, and about "terminal here".)
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Jon CoombsAug 2 '14 at 16:12